Copper gains in trading session ending Tuesday - 28 Dec 2016

Commodity Intraday Tips

Copper ended the session on 27 Dec 2016 at INR 378.80 per kg. The prices tested a high of INR 380.90 per kg and a low of INR 369.80 per kg.

Large speculators and traders decreased their net positions in Copper Copper markets last week following seven weeks of rises, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC).

The non-commercial futures contracts of copper futures, traded by large speculators and hedge funds, totaled a net position of 52,026 contracts in the data reported through December 20th. This was a weekly change of -9,089 contracts from the previous week which had a total of 61,115 net contracts.

The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -52,552 contracts last week. This is a weekly gain of 8,118 contracts from the total net of -60,670 contracts reported the previous week.

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